E Maid Marion

However, in India, it is not that simple. In the UA 1% of farmers own 70% of farmland. In India, 86% of farmers own nearly half the farmland—but are mostly poor with small holdings. The “mandi” system was meant to give them more negotiating power and set a minimum price if necessary boosted by government subsidies. Farmers are worried they will not be guaranteed a minimum price for their crops. Moreover, they will not be allowed to sue corporate buyers under the new law.

Farm rebels were not allowed to enter New Delhi because of covid-19 restrictions but they blockaded all the roads into India's capital. Punjabis are most active in the blockade, camping out in near-freezing temperatures. There have been daily deaths including some suicides (by a Sikh cleric).

Today the Indian Supreme Court ruled for the farmers ordering the laws to be delayed until there is an agreement. Some of the international support from Canada's Justin Trudeau is suspect. Canada is about 1% Sikh and a Sikh is Minister of Defense. Presenting the protest as being only from Sikhs is helping Modi present the protestors as separatists.

Another part of Modi's dominance is his closeness to Gujarati business 'royalty providing cheap money and supporting Gautam Adani's push to mine Australian coal despite global warming. If the farmers succeed—and they are well organized—it will be more than a win for farmers, but also one for other opponents of “iron man” Modi.

Abhimanyu also needled me for selling half our Nintendo stock, NTDOY, because is a Xmas fave.

Drug dealers

*Aurinia Pharma of Canada crashed 13% today to $13.1/sh after it made a licensing deal with Otsuka to develop and sell voclosporin for treating Lupus nephritis, a killer kidney disease that kills people with lupus (like my college classmate Ann Barry.) AUPH will license its drug not just for Japan, but also for all of Europe. Aurinia will get $50 mn in upfront cash plus as much again in milestones, plus a further 10-20% of sales receipts or higher under certain conditions. Otsuka will handle applications in Europe in H1 2021 and later in Japan. This is 2nd bad off-share tipped by Maerin Ferera in Vancouver, down 1.65% with AUPH. Yesterday it fell after signing up long-term Swiss partner Lonza to manufacture voclosporin. This is excessive. I bought more at $13.066 in memory of Ann.

*AbCellera Biologics hit a new low after its Friday listing but ABCL now is in the black, at $48.87/sh, up over 3%. It was Martin's most recent pick. British Columbia is full of drug startups, not all-wise.

*Martin pick Zymeworks is gaining today over its complex deal over cancer drug Zanidatamab. It was briefly over $52 but lost some of that gain.

*Beigene, helping ZYMEis up 6.5% to $261+ bringing my gains to 54%. It is our 2nd top stock today after yet a misreporting by coffee chain Luckin led to a $180 mn US fine for accounting fraud. BGNE is the honest Chinese drug trial operator and reports under international accounting standards.

View single page >> |
How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.
William K. 2 months ago Member's comment

Interesting and educational today.